HRS §412:8-401
Trust companies must put trust money in interest-bearing accounts
A trust company holding trust money that is waiting to be invested, given out, or used must put it in an interest-bearing account if the amount is over $100 or equals the total it holds in trust. The interest goes to the trust. This does not apply to money held as a personal representative or guardian, and the company is not responsible for other interest.
trustees
The statute, as written — Trust funds awaiting investment
(a) Except as may be otherwise provided by the terms of the trust, a trust company holding trust funds awaiting investment, distribution, or other use shall place any funds in excess of $100 or an amount equal to the aggregate sum it holds in trust in an interest-bearing account within a reasonable time and such interest shall be credited to the account of the trust whose funds are awaiting investment, distribution, or other use. (b) This section shall not apply to funds held by the trust company as personal representative or guardian. (c) The trust company shall be accountable for no other interest on such funds except as required by this section. (d) Nothing in this section shall relieve the trust company from the obligation to invest all funds held in trust by it as required by law or the terms of the trust instrument.
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